WNAM MONITORING: China said Monday that it rejects the “America First Investment Policy,” arguing that US restrictions on two-way investment with China are damaging Washington’s international credibility.
“China deplores and strongly opposes the US proposed actions in the Section 301 investigation,” said Foreign Ministry spokesman Lin Jian.
On Friday, the US Trade Representative’s Office sought comments from the public on proposed actions in a Section 301 investigation into China’s maritime, logistics and shipbuilding sectors.
Beijing considers such a probe a “politically motivated move, a deliberate abuse of the probes, a serious violation of World Trade Organization rules, and an action that will further damage the multilateral trading system,” Lin said.
“We’ve lodged a serious protest with the US over tightening scrutiny of Chinese investment,” he added. “The US is dealing a severe blow to its own business environment and Chinese companies’ confidence in investing in the US.”
Lin said that by pursuing a policy of restriction, the US “will, in the end, hurt its own economy and credibility.”
The US Trade Representative’s Office will hold a public hearing on the proposed actions on March 24.
“We urge the US to abide by international investment and trade rules, respect the laws of the market economy, stop politicizing and weaponizing economic and trade issues, and stop depriving China of its legitimate right to development,” said Lin.
